What is the primary purpose of Workday Human Capital Management (HCM)?

The primary purpose of Workday Human Capital Management (HCM) is to manage an organization's human resources effectively. This encompasses a wide range of activities that support HR functions, including recruiting, talent management, workforce planning, performance management, and employee engagement. Workday HCM provides a centralized system that enables organizations to handle various HR tasks cohesively, ensuring that they can easily access and utilize their workforce data for informed decision-making.

By focusing on effective human resource management, Workday helps organizations optimize their workforce, improve employee experiences, and drive overall business success. This comprehensive approach addresses the full employee lifecycle, from hiring to retirement, facilitating skills development, and ensuring compliance with employment regulations.

The other options touch on specific aspects of HR or business functions but do not capture the broad scope and strategic importance of Workday HCM as a comprehensive human resource management solution. Streamlining salary payments and bonuses is a function that falls under the umbrella of HR management but is not the primary purpose. Similarly, developing marketing strategies for HR departments and monitoring employee attendance are important tasks but represent only narrow facets of the overall human capital management landscape that Workday addresses.